Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 181.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,410 shares of the network technology company’s stock after purchasing an additional 6,063 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Palo Alto Networks were worth $3,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its stake in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC lifted its position in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the period. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the 1st quarter valued at $25,000. Finally, First PREMIER Bank increased its position in shares of Palo Alto Networks by 48.4% during the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 31 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.0 %

Shares of NASDAQ:PANW opened at $398.02 on Wednesday. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $400.69. The firm has a fifty day moving average price of $355.84 and a 200 day moving average price of $333.78. The stock has a market capitalization of $129.60 billion, a PE ratio of 54.90, a P/E/G ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock valued at $89,383,077 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PANW shares. Oppenheimer raised their target price on Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. TD Cowen boosted their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Citigroup lifted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Rosenblatt Securities increased their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.87.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.